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Don't Blame Gold for the Great Depression–Blame the Brits!

That's the sort of title I wanted City A.M., a free-market-oriented London financial daily, to give to this opinion piece arguing that "the gold standard" wasn't to blame for the Great Depression. Anything to get British readers' attention. But no dice: I guess they thought it a little too cheeky.

And here is an article by Barron's Gene Epstein, portraying me as a sort of Gran Poobah of anti-Fed "heretics" (and failing to mention, alas, either Bill Lastrapes or Larry White, co-authors of the forthcoming J. Macro paper referred to in the article). The comments are worth reading, if only to see evidence of the "don't trouble me with facts" attitude so many people have when it comes to staking out positions on matters of monetary policy.

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